Home Music Business New York Stock Exchange Wants to Change Rules for Spotify Public Offering

New York Stock Exchange Wants to Change Rules for Spotify Public Offering

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NYSE Asks for Direct Public Offering Rule Change

Spotify is looking to take it’s music streaming company public, but not with a traditional Initial Public Offering like Facebook and Snapchat. It’s rumored that they want a Direct Public Offering, which is a direct listing on the stock exchange. So the New York Stock Exchange has asked the United States SEC (Securities & Exchange Commission) for some rule changes to allow for this.

According to HypeBot

Hoping to attract high profile Spotify, the NYSE has appealed to U.S. Securities and Exchange Commission for a rules change that would make a direct listing easier and eliminate a “significant competitive disadvantage” for the NYSE.

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The exchange should get a ruling by June 29th. A Direct Public Offering would save Spotify millions of dollars in fees.

 

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